John Ransom

The anyone-but-Romney folks, which include about 80 percent of Republicans outside the state of New Hampshire, Massachusetts and GOP state central committees, have suffered from the fatal defect of having too many candidates in the race who clearly aren’t Mitt Romney.

After the New Hampshire primary, that will likely change as several candidates probably will do poorly enough in NH to at least give them pause about continuing the contest.

In the meantime, also-rans, and also-also-rans Newt Gingrich, Rick Santorum and Jon Huntsman are targeting their fire on Romney, hitting him on his vulture capitalism at Bain Capital, his lack of military service and his inability to get re-elected as governor.

Even more troubling to the Romney campaign should be the news that anti-Romneys not only have a message, but now have a great deal of money to get that message out.  

According to the Wall Street Journal, Sheldon Adleson, a wealthy Las Vegas casino owner who was born in Boston, has donated $5 million to a pro-Gingrich PAC called Winning the Future, with the intention of attacking Romney on his Wall Street banking ties.

Winning the Future has made a 27 minute documentary detailing Romney’s time at the head of Bain Capital, a vulture capital group that made money by buying distressed companies. The turnaround of such companies usually requires mass employee lay-offs, cramdowns of existing investors and other distasteful actions that will likely contradict Romney’s official campaign bio: Mitt Romney, All-American.

From the Wall Street Journal:

The pro-Gingrich Super PAC, called Winning the Future, plans to make the film available on the Internet this week, while also using extracts from it for short TV ads in South Carolina, whose primary is Jan. 21.

“While Mitt Romney cloaks himself in terms like conservative and free-market, this film is testimony that he is anything but,” said Rick Tyler, a former Gingrich spokesman who is now an adviser to Winning the Future.

“What Romney was doing was not traditional free-market capitalism but a deliberate, predatory, corporate mugging,” said Mr. Tyler.

I’ve been privy to a great deal of polling and focus group research that leads me to believe that GOP, Democrat and independent voters won’t be very enthusiastic about a candidate who fired employees and crammed-down investors, no matter how the story is dressed up.  

John Ransom

John Ransom’s writings on politics and finance have appeared in the Los Angeles Business Journal, the Colorado Statesman, Pajamas Media and Registered Rep Magazine amongst others. Until 9/11, Ransom worked primarily in finance as an investment executive for NYSE member firm Raymond James and Associates, JW Charles and as a new business development executive at Mutual Service Corporation. He lives in San Diego. You can follow him on twitter @bamransom.

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